Tree City Advisors, LLC.    |    An Idaho Financial Advisory Firm

1673 W Shoreline Drive, Suite 140  |  Boise, Idaho 83702

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PERSI Choice 401(k) FAQs

How do I enroll in the PERSI Choice 401(k)?

Fill out the paycheck contribution election form found here and provide this your payroll or HR department.

 

How do I change my contribution to the PERSI Choice 401(k)?

Fill out the paycheck contribution election form found here and provide this to your payroll or HR department.

 

 

Who is eligible for the PERSI Choice 401(k)?

Anyone who is PERSI-eligible through your current employer, plus any active member of the Judges’ Retirement Plan.

 

How much can I contribute to the PERSI Choice 401(k)?

In 2019 you can contribute up to $19,000 if you are under 50 and up to $25,000 if you are 50 or older.

 

Is there a match on my PERSI Choice 401(k)?

Match varies by employer, please contact your Human Resources Department.

 

Is there a ROTH option available?

There is currently no ROTH option available through your PERSI Choice 401(k).

 

Can I make a lump sum contribution to my PERSI Choice 401(k)?

All contributions to the PERSI Choice 401(k) must come through payroll.

 

Can I rollover money into my PERSI Choice 401(k)?

You can roll approved pre-tax dollars from a formers employer’s 401(a), 401(k), 403(a), 403(b), governmental 457(b), or from a Traditional IRA.

 

Can I rollover my PERSI Choice 401(k)?

If allowed, you can roll your PERSI Choice 401(k) into an IRA or a new employers’ pre-tax retirement accounts.

 

How do I change my investment options in the PERSI Choice 401(k)?

You can change your investments online at mypersi401k.com or by calling 1-866-437-3774. There are no fees for changing investment selection.

 

Are there any fees associated with my PERSI Choice 401(k)?

Please see the fee disclosure here.

Can I take a loan from my PERSI Choice 401(k)?

You can take up to one loan at a time from your PERSI Choice 401(k). There is a $75 origination fee and you can borrow up to 50% of your vested balance with a minimum of $1,000 and a maximum of $50,000.

 

When can I take money out of my PERSI Choice 401(k)?

You can access your 401(k) once you have separated from PERSI employment, unless you suffer a financial hardship. To avoid a 10% early withdrawal penalty, public safety members must be at least age 50 at separation and general members must be at least age 55. 

 

Do I have to start drawing money from my PERSI Choice 401(k) at retirement?

You do not have to start drawing from your 401(k) until the year in which you turn 70 1/2 . Unless you have less than $1,000 in your account at separation in which case you will have to either withdraw the balance or roll it over.